Italian energy major Eni S.P.A. (E) reported significantly higher profit in its second quarter, driven by stronger production volumes and improved pricing across its operations.
Net profit attributable to Eni’s shareholders surged to 3.32 billion euros in the second quarter, a dramatic increase from just 543 million euros in the same period last year.
Earnings per share reached 1.09 euros for the quarter, compared to only 0.16 euros per share recorded in the prior year period.
On a continuing operations basis, net profit attributable to shareholders came in at 2.83 billion euros, or 0.92 euro per share, versus a loss of 2 million euros in the prior year.
Adjusted net profit attributable to shareholders reached 2.33 billion euros, nearly doubling from the prior year figure of 1.13 billion euros.
Proforma adjusted EBIT climbed to 5.38 billion euros, doubling from last year’s 2.68 billion euros, on the back of strong performance at E&P, GGP, and the Transition satellites.
Total revenues climbed to 22.67 billion euros, up sharply from 17.22 billion euros recorded in the same quarter of the prior year.
Hydrocarbon production rose 7 percent to 1,789 kboe/d, compared to 1,668 kboe/d in the prior year period, with underlying production growing 11 percent net of price effects.
Citing strong execution and a supportive market environment, Eni raised its fiscal 2026 oil and gas production guidance to around 5 percent underlying growth, up from a previously announced target range of 3 percent to 4 percent.
The company also expanded its share repurchase program by 20 percent to 3.4 billion euros, increasing from last quarter’s revised guidance of 2.8 billion euros.
Eni confirmed its planned 2026 dividend of 1.1 euros per share, representing a 5 percent increase from the prior year level.
The strong quarterly results reflect broad operational momentum across the Italian energy group, positioning Eni for continued growth through the remainder of fiscal 2026.
